In a __________,someone wishing to replace the board with his or her own candidate attempts to acquire a sufficient number of shareholder votes to do so through limited written powers of attorney entitling the holder to vote the shares owned by the person giving the power of attorney.
A) hostile takeover
B) proxy contest
C) poison pill
D) greenmail takeover

Question

Quizplus · Accepted Answer

A proxy contest is a method used to replace the board of directors of a company with a new slate of directors through limited written powers of attorney (proxies) that allow the holder to vote the shares owned by the person giving the power of attorney. This is often used when an individual or group wishes to take control of a company without acquiring a majority of its shares.

In a __________,Someone Wishing to Replace the Board with His